Monday, June 30, 2014

Natural resources worth more than US$40 trillion must be accounted for

A press release from the University of East Anglia: Governments and companies must do more to account for their impact and dependence on the natural environment - according to researchers at the University of East Anglia. New research published today in the journal Nature Climate Change reveals that although some companies like Kering, a group which includes Puma and Gucci, are leading the way, more needs to be done to foster a sustainable green economy.

Researchers say that while the economic value of lost natural resources can be difficult to quantify, much more must be done to make sure that it is.

Lead author Matthew Agarwala from UEA’s School of Environmental Sciences, said: “When we talk about ‘natural capital’, what we mean is the elements of nature that produce value to people – such as ecosystems, plant and animal species, freshwater, land minerals, the air and oceans, as well as natural processes such as climate regulation.

“The value of this natural capital is largely excluded from both GDP and corporate accounting. It is assumed that these natural resources are ‘free’ – but using them has an impact on the natural world and future living standards. “This impact is too vast to be left off the balance sheets. The World Bank has estimated the value of natural capital to be at least US$40.2 trillion. That’s around half of gross world product, 1.6 times the combined assets of the world’s 10 biggest banks, and would have paid for the Apollo Space Programme more than 300 times.

“Companies and governments around the world need to account for their economic dependence and impact on the natural world to promote sustainability and combat climate change.” The report calls for public and private sectors to work together to develop Natural Capital Accounts (NCAs) - a metric to show vital information about economic dependence and impact on the natural world. These NCAs could then be integrated into national statistics such as Gross Domestic Product (GDP) accounts to provide early warning signs of emerging risks and vulnerabilities in the face of changing climate and land use....

June 2009 – At the studios of Cleanskies TV, I was interviewed about the costs of climate change, and discussed adaptation efforts underway in the US and around the world.

May 2009 – I helped draft the scenarios for Rising Waters, a multistakeholder scenarios effort focused on climate change adaptation in the Hudson Valley. The final report is now completed and available here.

May 2008 – I reviewed two books on climate and energy in the New Leader magazine: James Gustave Speth's The Bridge at the Edge of the World: Capitalism, the Environment and Crossing from Crisis to Sustainability, plus Robert Bryce's Gusher of Lies: The Dangerous Delusions of Energy Independence.

January 2008 – A very local paper covers a very global issue.... The Litchfield County Times in northwestern Connectictut ran an article in January 2008 about Carbon-Based.

Now available: Climate Change Adaptation in 2011

A selection of my writings from 2011, plus some of my posts, as well as links... all focusing on the risks of climate change